The global endovenous laser therapy market is on an upward trajectory, poised to hit a staggering valuation of US$ 811.0 Million by 2031, marking a significant growth from its 2021 valuation of US$ 378.3 Million. The global market is projected to reflect high demand in the forecast period with a CAGR of 7.9%. These projections, unveiled in a recent survey by Future Market Insights (FMI), highlight the escalating demand and potential of endovenous laser therapy in transforming the landscape of vascular treatments.
A primary driver for this exponential growth is the escalating prevalence of varicose veins, with endovenous laser therapy emerging as a pivotal solution owing to its user-friendly devices. As patients increasingly opt for advanced laser therapies over conventional treatments, the market continues to expand. This shift is motivated by the desire to mitigate potential complications and injuries associated with traditional options.
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The global shift towards healthier lifestyles coupled with the concerning rise in obesity rates is further fueling the demand for endovenous laser therapy devices. With a focus on providing safer, more effective treatments, endovenous laser therapy is swiftly becoming the treatment of choice for vascular conditions.
Another factor that is having a positive impact on endovenous laser therapy is the rapid change in lifestyle with no physical activity and labour across the globe, as well as the rise in the elderly population, both of which are anticipated to contribute to the global market’s growth over the forecast period. The market is also expected to develop due to the quick and effective technique as well as the growing demand for endovenous laser therapy.
Moreover, growing prevalence of obesity worldwide is driving growth of the endovenous laser therapy market. Obesity leads to problems related to blood circulation which leads to varicose veins.
Medical device manufacturers operating in the endovenous laser therapy market are focusing on providing user friendly devices to the end users to minimize chances of manual errors. In addition, continuous launch of new and improved products and increasing investment in research and development by the manufacturers in endovenous laser therapy devices would lead to growth of global market over the forecast period.
Key Takeaways from Endovenous Laser Therapy Market Study:
- Endovenous laser systems held the maximum share of 92.0% in 2021 by component, expanding at a rapid rate owing to the rising number of varicose veins cases and increase in number of product launches with advanced features.
- Ambulatory surgical centers showed maximum growth among all end users with a market share of 36.2% in 2021 owing to the rise in demand for outpatient surgeries. In countries such as the U.S., endovenous laser therapy for varicose veins is majorly performed in ambulatory surgical centers rather than hospitals in order avoid long-time waiting in big hospital settings, which is why the segment is developing at a rapid rate
- North America held the largest share of 42.7% of the global endovenous laser therapy market by region in 2021 indicating the growth due to increase in prevalence of obesity and growing number of FDA approvals in North America.
“Growing prevalence of varicose veins, shift towards minimally invasive procedures, availability of novel laser treatment and increasing number of product launches Is Expected to Drive the Demand for Endovenous Laser Therapy over the Decade,” says the FMI Analyst
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Key Companies Profiled:
- AngioDynamics, Inc.
- Syneron Medical Ltd.
- Dornier MedTech GmbH
- Alma Lasers Ltd.
- Alna-Medical system GmbH
- LSO Medical
- Wontech Co., Ltd.
- intros Medical Laser GmbH
- Energist Ltd.
Some of the leading manufacturers of endovenous laser therapy market are focusing on product launches, approvals, collaboration, and partnership strategies for global expansion objectives, thereby, enhancing their market presence.
- In January 2021, Syneron Medical Ltd. announced the availability of the Frax Pro system. The FDA-cleared and CE-marked, non-ablative fractional device is the first platform featuring dual-depth skin resurfacing with both Frax 1550 and the novel Frax 1940 applicators.
- In July 2020, Wontech announced that ‘Picowon’, an alexandrite (755nm)-based pico laser, has obtained US Food and Drug Administration (FDA) approval for the first time in Asia and the second in the world.
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Endovenous laser therapy Market by Category:
By Product:
- Endovenous Laser Systems
- Diode Lasers
- Yag Lasers
- Endovenous Laser Fibers
- Bare Tip Laser Fibers
- Radial Tip Laser Fiber
- Gold tip Laser Fiber
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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